• BREAKING NEWS ABC shows live and on-demand -- Download the WATCH ABC app!

Orson Welles' Oscar for 'Citizen Kane' sold

December 21, 2011 12:00:00 AM PST
The Oscar statuette Orson Welles won for writing "Citizen Kane" has a new owner.

The Academy Award was auctioned Tuesday for $861,542. That does include the buyer's premium.

"Citizen Kane" is considered one of the greatest movies ever made.

Nate D. Sanders auctions didn't release the name of the person who bought the Oscar. Magician David Copperfield bid on the award, but he was outbid.

The 1942 Oscar was long-believed to be lost, but it resurfaced in 1994 when a cinematographer tried to sell it. Welles' daughter blocked the sale.